- Nandan Nilekani co-founded Infosys and was its CEO from 2002 to 2007
- He will take over as non-executive chairman and non-independent director
- Recently, Vishal Sikka quit as CEO amid 'continuous assault' by founders
Infosys said chairman R Seshasayee and co-chair Ravi Venkatesan have resigned from the board. Mr Venkatesan will, however, continue as an independent director.
Welcoming Mr Nilekani, the outgoing chairman Mr Seshasayee said, "Nandan is the ideal leader for Infosys at this stage in the Company's development. His appointment will allow Infosys to focus on the strategic changes it needs to make in order to capitalize on the attractive opportunities in the years ahead."
Mr Nilekani co-founded Infosys in 1981 and was its CEO from 2002 to 2007.
Vishal Sikka, who resigned last week as CEO but was made vice-chairman till his successor was appointed, also quit the board with immediate effect, the company said in a statement after its board meeting. Jeffery S Lehman and John Etchemendy also quit as directors on the board with immediate effect, the statement added.
Mr Murthy and a few former Infosys executives have for months waged a public battle against the board of Infosys, accusing it of corporate governance lapses.
Disagreements between the two sides included the rise in Mr Sikka's compensation, the acquisition of Israeli automation firm Panaya for $200 million and a severance package offered to a former finance chief.
On Thursday, Infosys shares closed 2 per cent higher at Rs 912.50 on the Bombay Stock Exchange, whose benchmark Sensex index finished 28 points higher. Infosys stock rose as much as 2.7 per cent during Thursday's session. (With inputs from Reuters)
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